AppZen adds AI-run expense reimbursement to audit platform
AppZen, which makes artificially intelligent business process automation software, has introduced Insights, a product for its audit platform that allows finance managers to monitor and review employee spending without manual intervention.
AppZen’s Insights works with the real-time audit product to automate employee expense reports within set parameters. With the product, the company says managers don’t need to look at or manually approve employee expense reports, and the software keeps the company compliant with internal and SOX controls. AppZen audits and approves each report in real time and allows the company to reimburse employees the same day.
The Insights product was developed in response to popular demand from existing customers, the company said. Previously, AppZen Expense Audit could not eliminate manager approvals without compromising on controls until expense spend behavior was tracked and reported. Insights is the answer to that.
“This is an exciting update for us as it proves how AI can truly disrupt an age-old control and reimbursement process in finance, while massively improving compliance and employee satisfaction,” said Anant Kale, co-founder and CEO of AppZen, in a statement. “This new product allows managers to spot leakage, misuse and bad behaviors across the organization. We also understand that approving expense reports is not the best use of these talented peoples’ time. That’s where this new product comes in — as the insight layer to our expense audit product.”